By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares rise on more stimulus hopes but dollar loses steam
- Markets take US jobless claims in stride
- Coronavirus pandemic ravages global economy
- Investors pinning hopes on stimulus
Oil Markets
- Oil gains as govt pledge support amid coronavirus chaos
- Brent up 0.8% at $26.56 a barrel (0415GMT)
- WTI up 1.9% at $23.02
Precious metals
- Gold eases on profit-taking but set for best week in 11 years
- Platinum, palladium poised for best week ever
- Silver heads for its best week since 2008
- Spot gold down 0.4% at $1,622.65/oz. (0312GMT)
- US gold futures down 0.7% at $1,640/oz.
Grains
- Soybeans set for best week in 6 mths on production shortfall worries
- Soybeans up 2.5% for the week, biggest gain since Oct
- Wheat poised to extend 2-wk gains to 10%
- Corn set to finish the week up 1%
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa locks down for 21 days
- Moody’s decides on South Africa credit rating; downgrade expected
Key African events or data releases yesterday & early a.m today
- G20 leaders to inject $5 trillion into global economy in fight against coronavirus
- Oil slump scalps Nigeria, Angola, Mexico ratings; Saudi and Russia spared
- Nigeria imposes cargo vessel restrictions to curb coronavirus spread
- Zimbabwe cuts rates, miners send coronavirus distress signals
- Nigeria suspends FX sales to retail currency traders
- Egypt reports 39 new coronavirus cases, 3 deaths
- Africa Oil – Spot trade frozen, some crude heads to China
- Coronavirus delays South Africa Airways rescue plan to May
- South Africans fear safety divide as coronavirus panic takes hold in cities
- Africa’s window to curb coronavirus “narrowing every day” – WHO
- South Africa stocks lifted by global markets, gold gains
- Retailer Mr Price’s sales down 22% since South Africa declared disaster
- Zimbabwe central bank cuts main lending rate to 25%
- IEA says global oil demand could drop 20% as 3 bln people in lockdown
- Egypt reduced GDP growth target for FY 2019/20 to 5.1% – minister
- Kenya confirms first coronavirus death
- Soiuth Africa coronavirus cases exceed 900, Ramaphosa urges G20 aid
- G20 leaders say confident “we will overcome this” together
- South Africa port closures add to commodity market turmoil
- Namibia’s GDP contracts by 1.1% in 2019
- EU to launch new Libya sea patrols from April – diplomats
- Mali opposition leader taken hostage with six others – party
- Aveng to stop mining activities during South Africa lockdown
- Nigeria naira fell to new lows on official and spot markets
- Fearing coronavirus, Africa city dwellers flee to the countryside
- Egypt reduces GDP growth target for FY 2019-2020 to 5.1% – minister
- South Africa ports to close for mineral exports, disrupting copper supply chain
- South Africa small businesses pray govt aid eases coronavirus lockdown
- Uganda shilling strengthens as banks’ demand eases
- Mali opposition leader goes missing with 11 others – party
- South Africa Airways rescue plan deadline extended to May 29
- Libya’s NOC reports $555 mln in February revenue, down 69% m/m
- South Africa President Ramaphosa tests negative for coronavirus – presidency
- Kenya shilling strengthens due to slowing importer demand
N.B. Full stories of above headlines are available on Reuters